Hound Partners LLC reduced its position in shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,211,824 shares of the aerospace company’s stock after selling 495,471 shares during the period. Spirit AeroSystems accounts for about 10.1% of Hound Partners LLC’s investment portfolio, making the stock its 3rd largest position. Hound Partners LLC’s holdings in Spirit AeroSystems were worth $367,482,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in shares of Spirit AeroSystems by 19.0% in the second quarter. The Manufacturers Life Insurance Company now owns 4,422 shares of the aerospace company’s stock worth $257,000 after acquiring an additional 705 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Spirit AeroSystems in the third quarter worth approximately $432,000. Stevens Capital Management LP acquired a new stake in shares of Spirit AeroSystems in the third quarter worth approximately $1,042,000. FDx Advisors Inc. boosted its position in shares of Spirit AeroSystems by 91.2% in the third quarter. FDx Advisors Inc. now owns 6,979 shares of the aerospace company’s stock worth $542,000 after acquiring an additional 3,328 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Spirit AeroSystems by 541.7% in the third quarter. Sei Investments Co. now owns 58,085 shares of the aerospace company’s stock worth $4,515,000 after acquiring an additional 49,033 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) opened at $91.02 on Wednesday. The company has a market cap of $10,400.18, a P/E ratio of 30.14, a P/E/G ratio of 1.31 and a beta of 1.45. Spirit AeroSystems Holdings, Inc. has a 1-year low of $51.85 and a 1-year high of $105.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.64 and a quick ratio of 0.74.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Stockholders of record on Monday, March 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, March 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. Spirit AeroSystems’s dividend payout ratio is currently 13.25%.
Spirit AeroSystems announced that its Board of Directors has initiated a share repurchase program on Friday, February 2nd that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
SPR has been the topic of several research analyst reports. Seaport Global Securities reissued a “buy” rating and issued a $120.00 target price on shares of Spirit AeroSystems in a research report on Thursday, January 18th. ValuEngine raised shares of Spirit AeroSystems from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley raised their target price on shares of Spirit AeroSystems from $109.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Royal Bank of Canada set a $100.00 target price on shares of Spirit AeroSystems and gave the stock a “sell” rating in a research report on Tuesday, January 23rd. Finally, Wells Fargo & Co raised shares of Spirit AeroSystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $97.11.
In related news, SVP Stacy Cozad sold 1,100 shares of Spirit AeroSystems stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $91.47, for a total value of $100,617.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William Edward Brown sold 5,500 shares of Spirit AeroSystems stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $92.36, for a total transaction of $507,980.00. Following the completion of the sale, the senior vice president now owns 21,664 shares of the company’s stock, valued at approximately $2,000,887.04. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
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Spirit AeroSystems Profile
Spirit AeroSystems Holdings, Inc is a non-original equipment manufacturer (OEM), aircraft parts designer and manufacturer of commercial aero-structures. The Company is also a supplier of aero-structures. The Company operates through three segments: Fuselage Systems, Propulsion Systems and Wing Systems.
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